Great Eastern, the largest life insurance group in Singapore and Malaysia, has migrated over 200 terabytes of data from 300 on-premises Oracle databases to Oracle Autonomous Database on Oracle Exadata Cloud@Customer in their data centres.
By moving its databases, including financial product management systems, distributed commission management systems and rewards systems, onto a single integrated cloud platform, Great Eastern has automated its workloads and improved operational efficiency.
Founded in 1908, Great Eastern has over 100 billion Singapore dollars in assets and more than 16 million policyholders. To support the significant growth in its customer base over the past year, the life insurance group needed to modernise and automate its disparate on-premises database systems for improved scalability and enhanced performance while meeting stringent regulatory requirements.
Oracle Exadata Cloud@Customer promises enhanced performance, automation, and scalability to Great Eastern, simplifying its end-to-end data management. It thereby enables the company’s customers and financial representatives to have uninterrupted access to the platform anytime, with efficient performance, and in a more secure environment.
Oracle Exadata Cloud@Customer, delivered as a cloud service in its own data centres helps Great Eastern address data locality and compliance requirements.
Gary Teh, managing director in charge of Group IT at Great Eastern said the service has enabled them to provide an efficient and more reliable platform, resulting in better user experience for customers and financial representatives.
“We remain steadfast in our commitment to improving customer experience with product innovation to support the changing wealth and protection requirements of our customers across the region,” said Teh. “This involves optimising customer journeys through redesigned processes, harnessing our digitised assets, and leveraging advanced cloud capabilities.”
Chin Ying Loong, Oracle’s regional managing director for ASEAN & South Asia Growing Economies, said the life insurance sector is increasingly leveraging technology to innovate, enhance consumer experiences, and boost operational efficiencies.
“With Oracle Exadata Cloud@Customer, Great Eastern can enjoy the flexibility and economic benefits of cloud in its own data centers, while helping to meet local regulatory requirements,” said Chin.
